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440 messages,  Last post on Sep 24, 2009 at 1:20 PM

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#435 of 440 Re: wd and downtown [marsha7] by Mr_Shiftright HOST Sep 17, 2009 (12:28 pm)
Replying to: marsha7 (Sep 17, 2009 11:07 am) "that there is a percentage of folks out there who probably cause a disproportionate amount of accidents simply because they are bad drivers   I don't think people in Boston are going to like you talking behind their backs Replies to this message: dtownfb (Sep 17, 2009 5:32 pm)
#436 of 440 Re: wd and downtown [marsha7] by dtownfb Sep 17, 2009 (5:31 pm)
Replying to: marsha7 (Sep 17, 2009 11:07 am) I understand the entire argument you are presenting marsha7 and don't disagree. But after this housing/credit mess that caused us to be in this recession, I just think we need to change our spending habits. If you need a new car, put 20% down and don't finance a car for more than 5 years. Can't afford that, than buy used or save up the money.   Who knows? I might be overreacting.   You blame the current administration for our "lack of freedom", I blame our past couple decades of living beyond our means, greed and corruption. What is happening today is a direct result of living beyond our means. $700B for the banks, another $790B to keep the economy going. And unemployment is at 9.4%. Personally, I am working on paying off all my debt (except home and car) so I can handle whatever the government can dish out.
#437 of 440 Re: wd and downtown [Mr_Shiftright] by dtownfb Sep 17, 2009 (5:32 pm)
Replying to: Mr_Shiftright (Sep 17, 2009 12:28 pm) Actually I thought he was talking about my sister in law....
#438 of 440 dtown by marsha7 Sep 17, 2009 (5:45 pm)
"I just think we need to change our spending habits. If you need a new car, put 20% down and don't finance a car for more than 5 years. Can't afford that, than buy used or save up the money"...I cannot disagree with you there, but a downstroke of 20% on a 5 year loan would, IMO, have NO CHANCE of keeping up with the depreciation, especially if it is an American car...except for maybe Corvette, no GM car will be worth 50% of its purchase price in 2 years, whereas the loan payoff in 2 years, with 20% down, I think will be thousands of $$$ higher than the vehicle value...if totalled in first two years, then the owner will have to come up with thousands out of pocket, which most cannot do...so, all my arguments is this: gap insurance at a measly $10/month will remove that stress, and the cost is nominal...I do it for the stress relief...if you don't want to, don't buy it...but it IS an intelligent way for folks to protect themselves from a major payout with money they do not have...   I was PO'd at Bush for the first bailout as much as I am about Obama...most conservatives (altho I consider myself mildly moderate......meaning just to the left of Attila the Hun) were upset at Bush for No Child, Medicare Part D, and Bailout...and a few other things as well... Replies to this message: dtownfb (Sep 24, 2009 1:20 pm)
#439 of 440 Re: wd and downtown [marsha7] by wlbrown9 Sep 23, 2009 (9:50 am)
Replying to: marsha7 (Sep 17, 2009 11:07 am) If you are able to pay off a new vehicle or even put a large portion of it on say a HELC, you can consider New Car Replacement. Kind of like GAP but you don't have to have a loan. I'm with Allstate and bought a Saturn Outlook August 2008. Put it on the HELC and several months later when we sold a lake-front cabin in Ark. I used the capitol gain on that to pay off that amount on the HELC. The new car replacement would replace the vehicle with a new one for the first 3 model years. IIRC it was about $5-8 per month. I increased deductible from $250 to $500, but they give you a $100 reduction each year you don't use the deductible so that dropped to $400 and this year will drop to $300.   Also, 15-20 years ago we added a $1M umbrella policy. It covers our house, lake behind the house, pool, vehicles, etc. liability. IIRC it is between $300-$350 each year. Just looked it up $336 a year. I hate paying insurance, but the alternatives if the worst happens are unplesant to worry about. Of course, before I accumulated some assets it there was not as much risk as there is now.   Bill
#440 of 440 Re: dtown [marsha7] by dtownfb Sep 24, 2009 (1:20 pm)
Replying to: marsha7 (Sep 17, 2009 5:45 pm) I'm actually pretty moderate myself. We need to start living within our means. That hurts businesses because we don't spend as much but in the long run it's better for this country. Just wish we had more than two choices.

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